The Art of the Deal

摘要

On the evening of nov. 6, in the packedrnRockefeller Center salesroom of Christie'srnauction house, four buyers were vying forrna 1955 Picasso oil of Jacqueline, the artist'srnsecond wife. As the bidding quickly rosernabove $20 million, five members of arnfamily of international art dealers namedrnNahmad watched from their seats in the middle of thernexpensively attired crowd. David Nahmad, 60, together with hisrntwo older brothers, had purchased the painting in May 1995 atrnSotheby's for $2.6 million. The winning bid: $30.8 million,rnincluding the auction house's 12% commission. The family maderna tenfold gain over a 12-year holding period. It was a profitablernnight, indeed, for the Nahmads. Earlier a Modigliani they hadrnbought privately in London five months before for $18 millionrnhad also sold for $30.8 million.